India’s Reliance sells 35,000 tonnes naphtha at $29.50/tonne premium

29 May 2013 11:11[Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has sold 35,000 tonnes of spot naphtha supply to trading firm Mercuria for loading in late June, said a trader familiar with the deal on Wednesday.

The deal for the cargo was done at a premium of $29.50/tonne (€23.00/tonne) to Middle East quotes FOB (free on board), he added.

The loading of the cargo from Sikka will take place on 24-28 June, the trader said.

Reliance previously sold by tender a 55,000 tonne naphtha cargo at a premium of $30/tonne to Middle East quotes FOB. The buyer was Chinese trading firm Unipec and the loading of the cargo was during 22-26 May.